Formula E chief executive Alejandro Agag believes the future of the automotive industry, particularly in cities, is electric. He hopes the auto race will help promote the wider use of electric cars.

Agag wants the Formula E series to take place in "the heart" of the world's leading towns. It will be showcased in "cities committed to clean mobility and sustainability," Agag told CNN's Quest Means Business. "We think we can be of help to those cities that are promoting the use of the electric car, by making it more popular."

He noted: "In Mexico we are coordinating with key figures including Carlos Slim (Telmex's CEO and the richest person in the world) and Federico Alaman (Mexico City promoter), to identify the best locations in the country."

The Formula E cars will be capable of speeds over 200 kilometers an hour, and rather than substituting tire at a pit stop, the driver will change cars instead. The plan for Formula E's inaugural season is to have 10 teams and 20 drivers, with the possibility of adding more teams in future.